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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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F O R M 8 - K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act
of 1934
April 17, 1998
Date of Report (Date of earliest event reported) --------------
UNIVEC, INC.
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(Exact name of registrant as specified in charter)
Delaware 0-22413 11-3163455
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
999 Franklin Avenue, Garden City, New York 11530
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(Address of principal executive offices) (Zip Code)
(516) 294-1000
Registrant's telephone number, including area code ---------------------
N/A
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(Former name or former address, if changed since last report.)
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Item 4. Changes in Registrant's Certified Accountant.
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(a)(1)(i) On April 17, 1998, UNIVEC, Inc. (the "Registrant")
dismissed Coopers & Lybrand LLP (the "Former Accountant") as the Registrant's
principal accountants to reduce professional fees.
(ii) The Former Accountant's reports on the financial statements
for the fiscal years ended December 31, 1996 and 1997 did not contain an adverse
opinion or a disclaimer of opinion and were not qualified or modified as to
uncertainty, audit scope or accounting principles, except for an explanatory
note concerning the Registrant's ability to continue as a going concern as a
result of recurring losses from operations since its inception.
(iii) The decision to change accountants was approved by the Board
of Directors.
(iv)(A) During the Registrant's last two fiscal years and the
subsequent interim periods through the date of the Former Accountant's
dismissal, there were no disagreements with the Former Accountant, whether or
not resolved, on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure, which disagreements, if
not resolved to the satisfaction of the Former Accountant, would have caused it
to make reference to the subject matter of the disagreements in connection with
its report.
(v)(B) Not applicable.
(a)(2) On April 23, 1998, the Registrant engaged Richard A. Eisner
& Company, LLP as its principal accountant to audit the Registrant's financial
statements for the fiscal year ending December 31, 1998.
(a)(3) A letter from the Former Accountant addressed to the
Securities and Exchange Commission stating that the Former Accountant agrees
with the statements made by the Registrant in this report has been filed as
Exhibit 16.1 to this report.
Item 7. Financial Statements and Exhibits.
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(c) Exhibit
16.1. Letter from Coopers & Lybrand LLP
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
UNIVEC, INC.
Dated: April 28, 1998 By: /s/ David Chabut
Garden City, New York ---------------
David Chabut
Chief Financial Officer
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[COOPERS & LYBRAND LETTERHEAD]
April 28, 1998
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Gentlmen:
We have read the statements made by UNIVEC, Inc. (copy attached), which we
understand will be filed with the Commission pursuant to Item 4 of Form 8-K/A,
as part of the Company's Form 8-K/A report as of April 28, 1998. We agree with
the statements concerning our Firm in such Form 8-K/A.
Very truly yours,
Coopers & Lybrand L.L.P
